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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Andrew H who wrote (5341)3/6/1998 6:49:00 PM
From: Leroyt  Read Replies (1) of 27968
 
I think all this discussion about share price and rs (or whatever) should be put on hold until after the audited financials are out. The true market value of the stock will not be reflected until the audited financials are public and the Myriad deal closes. Also, the effect on earnings of the Downey deal needs to be assessed and made clear. Significant shares were added since the end of 1997 and it is important for the shareholders to know what we got for this dilution of the stock.

Nevertheless, my position is the following:

1. If all is as it has been stated with FAMH, the share price will eventually be a reasonable reflection of the earnings and growth.

2. On that basis, a split or reverse split makes no difference to the value of the stock. I can never figure out the reason for stock surges after a split although I have taken advantage of a few.

3. If the presence of FAMH on the BB hinders the stock price from reflecting its true value, a reverse split may be in order. Split or not the PE + growth rate should lead to the same value for every shareholder's dollar.

On the other hand, dilution of the stock without adding equivalent or better value to the earnings and growth is unjustified and is contrary to shareholders interest.

Given all that is stated above, I am long on FAMH though I did "take a few chips off the table" this week.

Good luck to the management of FAMH. The level of access the management has provided to the shareholders is very significant and difficult to manage. I appreciate Ira's openness and willingness to try to keep the shareholders informed of the direction the company is headed when the course is so uneven.

Later for now, Leroyt
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